Advantages of studying business management

Written by judy brown

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Management studies can help your business career take off. (Jupiterimages/Photos.com/Getty Images)

A degree or postgraduate qualification in business management can open the door to a world of careers. It will combine theory and practice, so that you will not only understand the challenges facing businesses, but will also be capable of dealing with them. All businesses need clear-thinking, well-informed managers with decision-making and leadership skills, and studying business management equips you to meet that need.

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Scope

You study organisations and how they operate: their finance and accounting, marketing, human resource management, and administrative functions. Courses cover specific knowledge in areas such as markets, finance, communication and information technology, and business policy and strategy. They also introduce issues of current concern, such as the ethical and environmental implications of commerce. Topics are viewed in the context of the business as a whole and, increasingly, in an international setting. You learn to apply your knowledge to problem-solving, decision making and project management in the real world. But because you are learning on a course rather than on the job, you have major advantages: time to consider all angles; guidance from experts; and no risk of making expensive mistakes.

Transferable skills

A business management course enables you to develop qualities such as teamwork, leadership, person management, public speaking, and negotiating, which you will need for a responsible job in any field. You improve skills such as critical analysis, creative problem-solving and persuasive communication, and learn to apply them in a range of situations. Particularly at the MBA level, you are trained to understand complex business issues, think strategically and reach well-thought-out decisions.

Job opportunities

A business qualification is directly relevant to many careers in management and administration and often covers partial accreditation towards professional qualifications offered by, for example, the Institute of Chartered Accountants or Chartered Institute of Marketing. Some business management graduates go straight to the top as entrepreneurs. Many go into graduate training schemes leading to positions of responsibility within private or public-sector organisations. You could work in any industry in fields such as accountancy, finance, management consultancy, risk management, systems development, logistics, human resources, marketing or advertising.

Wider opportunities

According to the official graduate careers website Prospects, about two-thirds of UK business graduates are in full-time employment within six months of finishing their course, while many others opt for further full or part-time study leading to an MBA or professional qualification. These advanced qualifications may offer potential benefits in terms of wider job prospects, global networking and higher salaries. Whether at first-degree or postgraduate level, however, management training should open up your mind and your career prospects to the international nature of modern business.